International DAP and MAP prices are firm

Phosphate prices in major global markets continue to be firm.

To the west of Suez, the price of Brazilian MAP has risen from US$325-330/ton CFR to US$330/ton CFR. Demand in Mexico is still strong, and Uruguay Isusa bidding for 10,000 tons of DAP has ended.

To the east of Suez, the price of Indian DAP was US$320/ton CFR, unchanged from last week. Demand for DAP in Pakistan appears, and importers purchase DAP at a price of US$324/ton CFR.

The price of DAP in China is firm, with prices rising to US$308-312/ton FOB this week, up US$1.50/ton from last week. This week, Indonesia’s Pupuk 70,000 tons of DAP tender closed, and the offer price increased by 4 dollars/ton from the previous price.

Brazilian buying increased and supply was tight. Chinese DAP companies focus on existing exports and the domestic market, and supply of DAP is tight.